PPP Loan Data — Smart Mechanical, Liberty, TX
Entity: Sole Proprietorship
Location: Liberty, TXTweet This • Search All PPP Data
Smart Mechanical is a sole proprietorship located at 304 Private Road 1344 in Liberty, Texas that received a Coronavirus-related PPP loan from the SBA of $25,236.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The First Liberty National Bank
Smart Mechanical in Liberty, TX received a Paycheck Protection Loan of $25,236 through The First Liberty National Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in March, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Smart Mechanical's 2019 payroll expenses are estimated to be at least $121,133.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,378 per employee1
Reported PPP Proceed Usage:
On the PPP application, Smart Mechanical reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,036
- Utilities: $1,200
Business Information - Smart Mechanical in Liberty, TX
304 Private Road 1344
Liberty, TX 77575
Other Automotive Mechanical and Electrical Repair and Maintenance
NAICS code 811118
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 22,608 businesses in the "Other Automotive Mechanical and Electrical Repair and Maintenance" industry received a total of $645.02M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 3 employees, the same amount reported by Smart Mechanical and received an average PPP loan of $28,531, 13% higher than this company's loan of $25,236.
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Footnotes & Information
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